Chris,

here’s the code. I assumed that when you wrote “if the bear-volume-green-bar CROSSES the simple moving” you actually meant “if the bear-volume-RED-bar CROSSES the simple moving”. I just want to add a personal note, from a NON BELIEVER in automatic trading. I am a discretional trader because I think that there is no way to substitute a mediocre brain with a super computer. I made this indicator to help to analyse with the Wyckoff method a certain stock. This indicator is supposed to confirm or not the price action of a stock inside a trading range and define the phase the stock is in. It might work in other situations but it was never tested for this purpose.

Gabriele

DEFPARAM CumulateOrders = False // Posizioni cumulate disattivate

//Basic parameters
period=23
ref=(close-low)/range
volbull=ref*volume
volbear=volume

if close>=open then
greenbarcount=1
greenvolume=volume
redbarcount=0
redvolume=0
else
greenbarcount=0
greenvolume=0
redbarcount=1
redvolume=volume
endif
//media volumi rossi e verdi per media mobile semplice
mmred=summation[period](redvolume)/summation[period](redbarcount)
mmgreen=summation[period](greenvolume)/summation[period](greenbarcount)
//return volbear coloured (205,0,0) style (histogram), volbull coloured (0,190,0) style (histogram), mmred coloured (255,0,0) as "Bear average",mmgreen as "Bull average"
//Entering the market
c1=(volbull crosses over mmgreen) and (volbull>mmred)
c2=(volbull > mmgreen) and (volbull crosses over mmred)

c3=(volbear crosses under mmgreen) and (volbear<mmred)
c4=(volbear < mmgreen) and (volbear crosses over mmred)

//long entry and exit rules
if c1 or c2 then
buy 3000 cash at market
endif
if c3 or c4 then
sell at market
endif
//short entry and exit rules
if c3 or c4 then
sellshort 3000 cash at market
endif
if c1 or c2 then
exitshort at market
endif

I’ve got it running on Demo, the last 2 trades entered at a good logical point and went to a very good profit in a short time, but then the profit turned to loss.

So the entry may be okay (but only 2 trades in last 2 hours) but the Exit may need work (but aren’t exits nearly always a pain to get right?).

@grahal even in a markup phase of the market a crossing signal might not be the right entry sometimes. You have to exit your long position when you start to see distribution and this means:

1. When the target is met;
2. When the uptrend line is broken;
3. when volumes are showing selling pressure in a range market (and in this case you will see bulls stronger than bears)

Hard to make this automatic….at least for me 😀

GraHal, I actually think you have a very smart strategy.